Asked by a

Using the standard 28/36 guidelines, what is the maximum mortgage payment allowed for someone with an annual salary of $73,025?
a.
$2,190.75
b.
$2,044.70
c.
$1,703.92
d.
$1,217.08


Please select the best answer from the choices provided

A
B
C
D

All Answers 1

Answered by GPT-5 mini AI
C

Monthly gross = $73,025 / 12 = $6,085.42.
Maximum mortgage = 28% × $6,085.42 = $1,703.92.